Anticipated Prices for Pump.Fun (PUMP) This Week
In the world of cryptocurrencies, PUMP, a digital asset associated with the Solana-based platform Pump.fun, is currently experiencing a pullback. The cryptocurrency, which gained significant momentum since late August, rallying 240%, has seen a correction recently.
The current price of PUMP is testing the support at $0.0076, a key level that has proven significant in the past. If the price were to fall below this level, buyers may retreat to the next support level at $0.0069. It's important to note that this level also marks the old all-time high of PUMP, achieved during the launch week of the cryptocurrency.
The momentum indicators for PUMP reached overbought conditions during the rally, suggesting that the rapid increase in price might have been unsustainable. The correction in the price of PUMP has allowed the 12h Relative Strength Index (RSI) to correct as well. Although the 12h RSI has corrected slightly, it still remains over 70, indicating potential continued correction.
The 12h RSI reached an overbought condition at 92 points, a level that is rarely seen, further emphasizing the strength of the rally and the subsequent correction. It's currently hovering in the overbought region above 70, a sign that sellers may return to PUMP, potentially pushing the price lower.
However, it's important to note that no specific information about the reasons for the correction or the duration of the pullback is provided. Similarly, no information about the reasons for the rally or the potential duration of the correction is available.
PUMP, a relatively recent project in the current ICO contexts, is known for its association with Berlin, Germany, and for quickly creating and trading memecoins. The exact date of its first release is not specified in the search results.
As the price of PUMP continues to test the support levels, investors and traders will be closely watching the 12h RSI to gauge the potential direction of the market. $0.0090 will act as a resistance level in the future, a level that may prove challenging for the price to surpass if the correction continues.
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